Plains All American Pipeline, L.P. (NYSE:PAA) had its price objective decreased by investment analysts at Bank of America Corporation from $26.00 to $22.00 in a report issued on Monday. The firm presently has a “neutral” rating on the pipeline company’s stock. Bank of America Corporation’s target price points to a potential upside of 6.64% from the stock’s previous close.

A number of other research analysts have also weighed in on PAA. Stifel Nicolaus cut their target price on shares of Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. UBS AG reissued a “buy” rating and set a $33.00 target price (down previously from $34.00) on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, May 10th. Raymond James Financial, Inc. raised shares of Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, May 22nd. They noted that the move was a valuation call. Deutsche Bank AG cut their target price on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $27.00 target price on shares of Plains All American Pipeline, L.P. in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $29.22.

Shares of Plains All American Pipeline, L.P. (PAA) opened at 20.63 on Monday. The stock has a market cap of $14.95 billion, a P/E ratio of 15.92 and a beta of 0.95. Plains All American Pipeline, L.P. has a 12-month low of $18.82 and a 12-month high of $33.95. The company has a 50 day moving average price of $23.85 and a 200 day moving average price of $27.71.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. The firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm’s revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) EPS. Analysts anticipate that Plains All American Pipeline, L.P. will post $1.49 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of PAA. Waldron LP acquired a new stake in Plains All American Pipeline, L.P. during the first quarter worth $1,380,000. First Manhattan Co. boosted its stake in Plains All American Pipeline, L.P. by 10.1% in the first quarter. First Manhattan Co. now owns 18,373 shares of the pipeline company’s stock worth $577,000 after buying an additional 1,685 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Plains All American Pipeline, L.P. by 2.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 381,800 shares of the pipeline company’s stock worth $12,069,000 after buying an additional 9,300 shares during the last quarter. Verity & Verity LLC boosted its stake in Plains All American Pipeline, L.P. by 0.9% in the first quarter. Verity & Verity LLC now owns 36,742 shares of the pipeline company’s stock worth $1,161,000 after buying an additional 310 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Plains All American Pipeline, L.P. during the first quarter worth $139,000. 42.08% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

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